Market Closing: Major benchmark indices of the stock markets closed lower on Thursday, led by a sharp fall in banking shares, while investors eyed on two big corporate earnings such as TCS, Infosys today and tomorrow, respectively.
The NSE Nifty index closed 78 points or 0.70 percent lower at 11,234.55, while the benchmark Sensex settled down 297 points or 0.78 percent at 37,880.40
All Components in the Nifty Bank, PSU Bank and Private bank indices ended in the red, closing index by 2.68%, 2.94% and 2.82% lower, respectively. Get Free stock Tips from the experts.
Shares of Housing major Indiabulls Housing Finance Ltd slipped 19.27% on the NSE after hitting a 52-Week low as the RBI hold back its proposed amalgamation with Lakshmi Vilas Bank. The stock closed at Rs. 193.60, down by Rs.46.20 from its previous closing price of Rs239.80
Meanwhile, telecom stocks jumped after Reliance Jio announced plans to cost customers for calls made through its network to other operators. Jio’s competitor Bharti Airtel Ltd and Vodafone Idea Ltd surged 4.35% and 5.13%, respectively.
Gainers and Losers: IndusInd Bank, Yes Bank, GAIL India, Tata Motors and Vedanta down were top losers on the Nifty. On the other hand, Bharti Airtel, Grasim, Reliance Industries, Hindustan Unilever and HCL technologies were among the top index gainers. For Free stock tips visit our website.